Solar Panel Cost Guide in Old Tappan, NJ (2024 Update)
- Old Tappan Solar Installation Cost: $11,529
- 25-Year Savings: $8,958
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Old Tappan
Let’s have a look at the average cost of solar in Old Tappan.
The national average cost of solar panels is $2.66 per watt, but in Old Tappan it’s 4 per watt.To account for the typical energy usage of the average home in Old Tappan, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs about $11,529, or $16,486 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.Despite the high initial cost, the average Old Tappan homeowner can save around $15,000 on their power bills over 20 years, which is one of the positives of solar.
To get a free quote from a highly rated solar installation company in Old Tappan, you can click the button below.
Solar savings over time in Old Tappan
| Year | Return on Investment |
|---|---|
| 1 years | $-10,106 |
| 3 years | $-7,262 |
| 5 years | $-4,417 |
| 7 years | $-1,572 |
| 9 years | $1,273 |
| 11 years | $4,117 |
| 13 years | $6,962 |
| 15 years | $9,807 |
| 17 years | $12,652 |
| 19 years | $15,496 |
| 21 years | $18,341 |
| 23 years | $21,186 |
| 25 years | $24,031 |
Top Solar Installers in Old Tappan
When switching to solar energy, many homeowners choose to go with a solar company since overseeing your solar installation yourself can be a challenging project. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you're looking for a solar company in Old Tappan, the EcoWatch team has compiled a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Old Tappan
Factors that Affect Solar Panel Costs in Old Tappan
Even though the average cost of a solar system in Old Tappan is $11,529, your actual cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,530.The type of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Old Tappan, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar panel companies operating in Old Tappan, and each can charge different amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.67 | $15,419 | $7,735 | 16.6 years |
| 8 kW | $3.60 | $20,163 | $10,709 | 16.3 years |
| 10 kW | $3.53 | $24,710 | $13,880 | 16.0 years |
| 12 kW | $3.46 | $29,059 | $17,250 | 15.7 years |
| 14 kW | $3.39 | $33,210 | $20,816 | 15.4 years |
| 16 kW | $3.32 | $37,164 | $24,581 | 15.0 years |
| 18 kW | $3.25 | $40,920 | $28,543 | 14.7 years |
| 20 kW | $3.18 | $44,478 | $32,703 | 14.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Before you sign a contract with a solar company, be sure to look it over carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Old Tappan, NJ Solar Cost FAQs
How much does it cost to install solar panels in Old Tappan?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to think about when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will solar panels impact my home value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.